CPO: Downtrend Continues

KUALA LUMPUR: Crude palm oil (CPO) futures contracts on Bursa Malaysia Derivatives continued its downtrend for the fourth consecutive day weighed by the weakness in soyabean oil prices on the Chicago Board of Trade.

Phillip Futures Sdn Bhd Derivatives Product Specialist David Ng said the downside may be capped by good export demand.

At close, June 2014, July and September slipped RM17 to RM2,542 a tonne, RM2,518 and RM2,501 a tonne, respectively while August 2014 dropped RM19 to RM2,505 a tonne.

Turnover fell to 36,314 lots from 38,632 lots recorded on Tuesday while open interest was lower at 214,035 contracts from 217,975 contracts previously. Bernama

Source : New Straits Times

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